As Mr Tim Worstall, a fellow at the Adam Smith Institute in London, argued this week, the relationship between what the royal family ostensibly owns and how the income from those holdings is distributed and taxed is fiendishly complicated. But the narrow truth is that the Crown Estate, which belongs to the monarch, pays its profit to the Treasury. In the most recent accounts, that was worth more than £304 million; in the past decade, the estate has handed over £2.4 billion. As Mr Worstall says: The important point to grasp is that Buckingham Palace does not belong to Mrs E. Windsor, it belongs to the monarch. The Crown Estate does not belong to Mrs E. Windsor, it belongs to the monarch. And the profits on one part of the monarch’s estate are being used to pay for the upkeep of another part of the monarch’s estate. That is, the Crown is already paying for these repairs to Buckingham Palace. Which is what makes demands that the Crown, or its estate, should pay for the repairs to Buckingham Palace so damn ignorant.
It’s actually a reprint of something from Bloomberg.
And I know this is trivial and so on, but I really do still get a kick out of this.
I know why I wrote that piece, it was just looking around for something to scribble to earn the 200 crisp ones that I’ll get paid for it. And now it turns up in the fish wrapper in Singapore. Yes, it’s trivial, there’s a childish glee to this. But that glee is there. I still find it difficult to really get my head around it all.
Oh, and one more point. So, some bloke in the Czech Republic scribbles something, up onto this telegraphic contrivance, and a day later there’re snippets and quotations being fed to millions around the world?
And we’re in a time of technological stagnation, are we?